SAN DIEGO -- Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, today announced that it was added to the Russell 2000 Index and the broad-market Russell 3000 Index effective at market close on June 24, 2016.
“Inclusion in the Russell 2000 is further recognition of our continued progress and the growth of our business,” said James DeBello, chairman and CEO, Mitek. “We look forward to the additional visibility and exposure of MITK within the investment community that comes along with being part of the Russell 2000 Index.”
The rebalanced Russell Global, Russell 1000, Russell 2000, Russell 3000, Russell Midcap, and Russell Microcap Indexes will begin trading today, June 27, 2016.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000®, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for these indexes primarily by objective, market-capitalization rankings, and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $6 trillion in assets are benchmarked to the Russell U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell US Indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
Mitek (MITK) is a global leader in mobile capture and identity verification software solutions. Mitek’s ID document verification allows an enterprise to verify a user’s identity during a mobile transaction, enabling financial institutions, payments companies and other businesses operating in highly regulated markets to transact business safely while increasing revenue from the mobile channel. Mitek also reduces the friction in the mobile user experience with advanced data prefill. These innovative mobile solutions are embedded into the apps of more than 5,000 organizations and used by tens of millions of consumers daily for new account opening, insurance quoting, mobile check deposit and more. Learn more at www.miteksystems.com. (MITK-F)